Saudi Arabia to lower oil prices, the houston boom is over

We might have low prices for a while. We have a supply glut. Too many people trying to get oil might have killed the goose.

 

Having been though a few Boom/Busts... anything where people are making money hand over fist will eventually bust.

What's next? Chinese real estate?

 

The cash rich companies will buy up discounted leases and reserves over the next couple of years and make a killing. The overly leveraged companies will be the ones selling. As in any bust, those with cash will go on buying sprees.

 

Except Chevron etc. have new projects. With service companies hurting now would be the time to go drill so they can get the cheap rates.

 

We find out in a couple of weeks. Should be only one round this year. That could change if prices continue to slump.

I'm in finance and accounting and it seems like most of us will be safe due to another office closing and a small number of people willing to relocate. Fingers crossed.

 

gonna be some pain for a while... typical boom/bust cycle. just power through and know it will be back in a couple of years. best of luck to you.

 

The company I work for is going full steam ahead with one big acquisition and looking at assets from a few of the floundering mid-sized companies. If things work out they are going to be a big player once all the smoke clears.

I'm hearing things about Noble being a target (not for the company I work for) based on their recent troubles with being accused of cooking the books.

 

If people are willing to relocate to Utah and or NYC area, I know of a company that is hiring back office (accounting and confirmations) and potentially schedulers for natural gas. PM me.

 

petrol was @ its lowest in australia for along as i could remember for the last 9 months but is now starting to trend back to the mean.

i realised this because its all to do with my studies but still annoying

 

I would think the acquisitions really begin once the SEC price for reserves drops. Anyone know how that price is calculated?

 

Best of luck to those facing layoffs.

 

I think that's already begun. Especially now that politicians there can no longer register residential housing through shell corporations.

 

Well at least they let me take the rest of the week off. Heh.

 

Finance and accounting folks with experience at publicly held O&G companies and/or people that have worked for major accounting firms can directly message me.

My employer has a few openings.

 

Canadian real estate. The combination of lower oil prices and the potential for the Canadian govt to introduce laws that may stem foreign investment could pop that bubble.

 

if supply demand tells the truth like oil, it'll be the Canadian condo market.

Houses? lol...

 

I ended up getting it, although they left me in limbo for about 3 weeks. Freakin HR!

 

Congrats man. 3 weeks is pretty fast for HR. The most important thing is you got it.

 

Houston is far more than an oil town now. Boomproof!

 

So what's new.